This garments and apparels stock jumped 7% on May 31; Know why

Lux Industries share soars: Shares of garments company Lux Industries rose as much as 7.10 per cent to hit an intraday high of Rs 1,523.30 per share. 

The surge came after the company announced a healthy March quarter (Q4FY24) results.

Lux Industries’ profit grew 78 per cent on a year-on-year (Y-o-Y) basis to Rs 55.5 crore in the March quarter of FY24, from Rs 31.2 crore in the same quarter last year (Q4FY23).

The topline, however, fell marginally (1.3 per cent) to Rs 707.6 crore in Q4FY24, as opposed to Rs 716.9 crore in the same quarter last year (Q4FY23). 

At the operating front, earnings before interest taxes, depreciation and amortisation (Ebitda), zoomed 79.2 per cent on a Y-o-Y basis to Rs 75.6 crore in Q4FY24, from Rs 42.2 crore in Q4FY23. 

Ebitda margin, meanwhile, expanded 480 basis points (bps) to 10.7 per cent in the MArch quarter of financial year 2024, from 5.9 per cent in the March quarter of financial year 2023. 

Lux Industries expenses dropped 6.7 per cent on a Y-o-Y basis to Rs 639.8 crore in Q4FY24, from Rs 685.9 crore in Q4FY23.

The Board of Directors have recommended a dividend of Rs 2 per share of the face value of Rs 2 each for FY24. 

The market capitalisation of Lux Industries is Rs 4,373.17 crore, according to Bombay Stock Exchange (BSE).

The 52-week high of the Lux Industries stock is Rs 1,720.80 while ts 52-week low is Rs 1,072.05 per share. 

Kolkata-based Lux Industries is an innerwear clothing brand. Its other brands include Lux Cozi, ONN, GenX, Lyra, Lux Infero, Lux Cozi Glo, Lux Nitro, Lux Cozi Her, Lux Touch, Lux Karishma and Lux Mozze. The company has operations in India and caters to both domestic and international markets.

At 1:19 PM, shares of Lux Industries were trading 2.30 per cent higher at Rs 1,455.05 per share. In comparison, S&P BSE Sensex was trading 0.23 per cent higher at Rs 74,052 per share.